Markets open higher on firm global cues

Coal India, Tata Motors and ICICI Bank top gainers among the Sensex stocks

Markets have opened on a higher in trades today tracking tracking firm Asian cues. The benchmark indices have advanced 0.7% each in the opening deals. The Sensex has opened higher by 115 points at 16,792 and the 50-share Nifty has jumped 35 points to 5,090 levels.

Overnight, the US stocks ended higher on reports that central banks are preparing coordinated action if the results of Greek elections this weekend generate turmoil in financial markets. The Dow Jones industrial average gained 1.3%, while the Standard & Poor's 500 Index surged 1.1%.

In Asia, Nikkei is up 0.3% or 27 points at 8,595, Hang Seng is up 270 points at 19,079 and the Taiwan Weighted has advanced 78 points or 1% at 7,153 levels.

Back home, Buying is visible across the board. All the Sensex stocks are trading higher. ONGC is the top gainer, up 2% to Rs 273. Hero MotoCorp, Coal India, Tata Motors, Gail India, ICICI Bank, SBI, Maruti Suzuki and Mahindra & Mahindra are also among the top gainers.

On the sectoral front, BSE Realty index is the top sectoral gainer, up 1% or 17 points at 1,611. PSU, bankex, oil & gas, metal, auto and capital goods indices have also opened higher by 0.7-1% each.

The broader markets are also trading higher. The BSE mid-cap index is up 36 points at 5,960 and the small-cap index is up 25 points at 6,347.

The overall breadth is extremely positive as 759 stocks are advancing while 215 are declining.